Sep 14, 2007

Mobile banking won't lead to mobile payments

This was on Javelin's blog this morning.

I always cringe when I hear people use the terms mobile banking and mobile payments as if they were both one and the same thing. There are conferences titled "Mobile banking and mobile payments" but when you look at the actual topics everything is pretty much mobile banking. Now, James Van Dyke at Javelin has just done a blog post on this exact subject.

The belief that when people start looking at their bank accounts with their mobile phones more often, they will automatically also want to use their mobile phones to pay, has always felt like sloppy thinking. Managing your bank account and paying at a retail outlet are completely different things, from a usage standpoint.

2 comments:

Philippe Lerouge said...

totally agree with you.
ready to meet you to discuss further more on the subject.
Philippe - www.paiementmobile.com

Anonymous said...

This is right ! As I am on the Mobile Banking side, everyday I have to explain and explain again the difference between Mobile Banking and Mobile Payment : is your phone a Visa card ? This is pretty much easier in France where it is not possible to "pay bill" as a banking service . It just does not exist. We pay our bills by check, cash, or by money transfer (here we use our bank online services), or automatically, or by signing a "TIP" which is a kind of agreement to debit a specific account we receive at home only.
Here is the point : when you pay your bill with a Mobile Banking solution, how do you call it ? Mobile Payment thru Mobile Banking ? Just "pay bill". With your mobile. This is confusion, I'd better go to sleep...
sebastien - http://www.lemonway.fr